Intuitive Machines (NASDAQ:LUNR) Stock Price Down 3% Following Analyst Downgrade

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price fell 3% on Tuesday after Cantor Fitzgerald lowered their price target on the stock from $15.00 to $13.00. Cantor Fitzgerald currently has an overweight rating on the stock. Intuitive Machines traded as low as $8.90 and last traded at $8.95. 7,792,386 shares were traded during mid-day trading, a decline of 49% from the average session volume of 15,281,672 shares. The stock had previously closed at $9.22.

Several other equities research analysts also recently issued reports on LUNR. Bank of America assumed coverage on Intuitive Machines in a report on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 price objective on the stock. Benchmark reiterated a “buy” rating and set a $16.00 price target on shares of Intuitive Machines in a research note on Tuesday. Roth Mkm lowered their price objective on shares of Intuitive Machines from $20.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 11th. Canaccord Genuity Group dropped their price objective on shares of Intuitive Machines from $22.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Intuitive Machines in a report on Tuesday, February 25th. They set a “hold” rating and a $18.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Insider Buying and Selling

In related news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the completion of the sale, the director now owns 3,494,768 shares in the company, valued at $64,128,992.80. The trade was a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven Vontur sold 4,528 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total transaction of $88,748.80. Following the completion of the transaction, the insider now owns 104,272 shares in the company, valued at $2,043,731.20. This represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 392,713 shares of company stock worth $7,250,066 over the last 90 days. 73.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuitive Machines

Several large investors have recently bought and sold shares of the stock. PharVision Advisers LLC purchased a new stake in shares of Intuitive Machines in the 4th quarter valued at about $185,000. Voloridge Investment Management LLC purchased a new stake in Intuitive Machines in the fourth quarter valued at approximately $3,768,000. Soviero Asset Management LP lifted its stake in Intuitive Machines by 65.0% in the fourth quarter. Soviero Asset Management LP now owns 330,000 shares of the company’s stock valued at $5,993,000 after buying an additional 130,000 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Intuitive Machines in the fourth quarter valued at approximately $4,971,000. Finally, Two Sigma Investments LP purchased a new position in shares of Intuitive Machines during the fourth quarter worth approximately $33,255,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

Intuitive Machines Trading Down 0.2 %

The business’s fifty day moving average price is $15.91 and its 200 day moving average price is $12.96. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -3.13 and a beta of 1.01.

About Intuitive Machines

Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.